Property for sale in Palma de Mallorca

Discovering Property for Sale in Palma de Mallorca: Best Areas, Types of Properties, and Price Insights

If you’re considering investing in property for sale in Palma de Mallorca, you’re not alone. Palma, the capital of the Balearic Islands, is a city of rich history, vibrant culture, and unparalleled Mediterranean beauty. Whether you’re looking for a charming historic townhouse, a modern apartment, or a luxurious penthouse, Palma offers a diverse range of properties in some of the most sought-after areas in Spain.

Best Areas in the Old Town of Palma

The Old Town (Casco Antiguo) of Palma is a blend of narrow, winding streets, historic buildings, and hidden courtyards. It’s an area brimming with character, and it’s one of the most desirable places to live in the city. Here are some of the best neighborhoods within the Old Town for those seeking property for sale in Palma de Mallorca:

1. La Lonja: Known for its historic significance, La Lonja offers a unique mix of art galleries, restaurants, and charming streets. It’s a sought-after area for those who enjoy the blend of culture and modern living. Properties here typically consist of renovated townhouses and boutique apartments.

2. Santa Catalina: Once a traditional fishing district, Santa Catalina has transformed into one of Palma’s trendiest neighborhoods. Expect to find stylish apartments, lofts, and modern homes, often with exposed brick and open-plan layouts. It’s the perfect place for those looking for an urban lifestyle.

3. Avenida de Jaime III & Paseo del Borne: These bustling avenues are lined with high-end shops, cafes, and restaurants. Properties here tend to be luxurious, including spacious apartments and exclusive penthouses, offering easy access to Palma’s cultural and commercial center.

4. Carrer de Sant Miquel: One of Palma’s most historic and vibrant streets, Carrer de Sant Miquel offers a mix of traditional apartments and refurbished townhouses, ideal for those wanting to live in the heart of the city while still enjoying a quiet, residential atmosphere.

5. El Terreno: Situated just below Bellver Castle, El Terreno offers a mix of historic buildings, contemporary apartments, and villas. This area provides some of the best views of Palma Bay, making it an attractive spot for those seeking both charm and a modern lifestyle.

Types of Properties for Sale in Palma de Mallorca

Palma offers a wide variety of property types, catering to different tastes and budgets. Here are some of the most common types of properties for sale in Palma de Mallorca:

1. Townhouses: Traditional townhouses in Palma’s Old Town are incredibly popular, especially those with private courtyards or rooftops. These homes often feature a blend of traditional Mediterranean architecture with modern comforts. Many townhouses have been beautifully renovated to preserve their historic charm.

2. Apartments: Whether you’re looking for a modern apartment with stunning views of the sea or a cozy flat tucked in a quiet, charming street, Palma offers a variety of options. Apartments in the Old Town often boast high ceilings, large windows, and a mix of classic and contemporary design.

3. Penthouses: For those seeking luxury and exclusivity, penthouses in the city offer spacious living areas, private terraces, and panoramic views of Palma’s skyline and the Mediterranean Sea. These properties are typically located in prime locations like Avenida de Jaime III or Paseo del Borne.

4. Lofts and Studios: Palma is also home to a range of trendy lofts and studios, particularly in the Santa Catalina area. These properties are ideal for individuals or couples looking for a modern, compact living space in a lively neighborhood.

5. Luxury Villas: If you’re looking for more space and privacy, luxury villas on the outskirts of Palma offer large gardens, private pools, and breathtaking views. These properties can be found in areas like Son Vida, just a short drive from the city center.

Price Per Square Meter in Palma de Mallorca

The price per square meter (sqm) in Palma de Mallorca can vary significantly depending on the location and type of property. As of 2025, here’s a general overview of what you can expect:

- Old Town (Casco Antiguo): Prices in the Old Town tend to be higher due to the area’s historic charm and proximity to key cultural sites. The average price per square meter is around €3,500 to €5,500 for renovated apartments or townhouses.

- Santa Catalina: This trendy neighborhood sees an average price of €3,000 to €4,500 per sqm for a modern apartment or townhouse, depending on the property’s size and condition.

- Paseo del Borne and Avenida de Jaime III: Known for luxury properties, prices in this area can reach €6,000 to €8,000 per sqm, especially for high-end apartments or penthouses with sea views.

- El Terreno: A more affordable option, properties here average €2,500 to €4,000 per sqm, offering great value for buyers seeking both charm and views of the bay.

- Son Vida: For those looking for luxury villas with larger plots of land, prices in Son Vida range from €4,500 to €8,000 per sqm, depending on the property’s features and location.

So, are you interested in buying a home in Palma ?

Palma de Mallorca is a prime location in 2025 for those seeking a property that combines rich history with modern amenities and Mediterranean charm. Whether you’re interested in an apartment in the Old Town, a luxury penthouse, or a renovated townhouse, there’s a wide range of properties available. The prices vary depending on the area, type, and size of the property, but Palma offers excellent value for those looking to enjoy the best of island living.

Information about buying property in Palma de Mallorca Old Town:

The best areas include La Calatrava and Sa Gerreria, known for their beautifully restored townhouses and quiet, picturesque streets. Jaume III and Passeig del Born are ideal for those seeking high-end apartments near luxury boutiques and restaurants. Sant Nicolau and Monti-Sion offer an authentic Mallorcan feel with charming plazas and historic buildings. Whether you’re looking for a stylish penthouse or a traditional townhouse, Palma’s Old Town combines culture, convenience, and investment potential.